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Non-Tech : LACI-Latin American Casinos Inc.
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To: WallStBum who wrote (16)9/26/1997 10:52:00 AM
From: Crabbe   of 54
 
Dax

Both Stephane and I are in the warrants exercise price 7.25 call 13.00 Lots of room to run there. The company has now extended the warrants twice, so they don't seem inclined to just let them die, though with their cash position I can't imagine why, in any case the warrants now expire in Dec 1999..

Peru is essentially dead I think but it was the catalyst that headed LACI into slots. If the routes in Columbia, Nicaragua, and Honduras take off I think we may see explosive growth in earnings. According to the investors packet I received the Peru operation is still covering overhead, but I doubt that we will see any future expansion there. They also have applications for route based operations in several other South American countries, and are actively persuing the Caribean.

I am hoping to see earnings of maybe 4 cents for third quarter, anything better will be a big plus, but 4 cents will show nicely that Columbia is becoming productive.

Should LACI gain entry into the other SA countries I believe they have the contracts to obtain several thousand more used slots for about the same price as they paid for the existing slots.

As Stephane said this one is speculative as hell, but if it works it will be as profitable as BNGO most likely. In any case this is a chance to get in on the bottom floor.

Rod

Dream a little
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